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Schmitt Industries (SMIT) Reports Q2 Revenues of $2.96M, EPS of $0.57

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Schmitt Announces Second Quarter Fiscal 2022 Operating Results

January 14, 2022 5:16 PM EST

PORTLAND, Ore., Jan. 14, 2022 /PRNewswire/ -- Schmitt Industries, Inc. (NASDAQ: SMIT) (the "Company" or "Schmitt") today announced its operating results for the fiscal quarter ended November 30, 2021. The operating results for the three and six months ended November 30, 2021 and 2020 include financial results from Schmitt's July 9, 2020 acquisition of Ample Hills Creamery ("Ample Hills").

Highlights of the three and six months ended November 30, 2021

Consolidated revenues increased $932,253, or 45.9%, to $2,961,965 for the three months ended November 30, 2021, as compared to $2,029,712 for the three months ended November 30, 2020. Consolidated revenues increased $3,183,943, or 90.0%, to $6,721,140 for the six... More